#header-inner img {margin: 0 auto !important; #header-inner {text-align: Center ;} Fiji Coupfourpointfive: Reserves balloon to $1 billion

Thursday, September 24, 2009

Reserves balloon to $1 billion

Fiji's foreign eserves have ballooned to $1 billion and this is being hailed as a milestone by the Reserve Bank Governor Sada Reddy.

Reddy says $1 billion is sufficient to cover 3-4 months of imports.

He says the reserves have escalated to $1 billion because of devaluation and declining imports.

The interim regime's acting Finance Minister Aiyaz Sayed-Khaiyum says this announcement will bring confidence into the financial sector and the saving is a result of what he terms as the regime's prudent financial management and discipline.


Anonymous said...

$1 billion? Why not make it 5 or 10? How do we know this is correct without scrutinity?
Be very suspicious about any figures released by these serial thugs and liars.
As for "prudent financial management and discipline"?
What a joke.

mark manning said...

And once upon a time !

Anonymous said...

3-4 months of imports? That's not comfortable and a sign that things are not that well with Fiji's economy. $1bn? OMG! Under normal circumstances (without the devaluation) that would be something of an achievement! But 3-4 months - Phutt!!!!

THAT IS NOTHING SPECIAL! Quit the bullshit!!!!!

Anonymous said...

I heard that increase in reserve means lower confidence of investors, the reserves is what we normally spend to expend the business. This makes sense. Why expand when the econimical infrastructure is instable??

Anonymous said...

Lending interest rates are still high?